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Friday, April 20, 2012

Trade review 4-20-12

I got one pick right on Friday...

Hits:

ADY

A bare win when this crossed the flat line on the stick just after the noise candle. It continued to fade a while, rebounded to the flat line, and limped late but sprinted into the finish, ending red by about 1.5% on Friday. The likely entry point was above where it ended by 6-7 cents.

Misses:

XCO

A fake out loss for longs when a gap up advanced initially and triggered. It soon reversed, heading back to and under the flat line. It remained negative all session, ending south by over 2.5% on Friday.

VTG

A fake out loss likely for longs when a flat open spiked up on the noise candle over the trigger, and the next candle also hit over the entry point target. It closed right on but not above the price. It was all downhill from there, though. It fell to and under the flat line and then kept decaying, closing down by over 3% on Friday.

Push:

SEFE

Sideways movement early soon spiked up, so shorts never had a chance here. It spiked again into the close, en route to another green finish, this time of over 13.5% on Friday. A no play push which never lost 1.50.

TNGO

This opened on a gap down which fell on the noise candle. The next one made new highs on a spike print, but it closed fast well under those and below the flat line, so it's unlikely anyone hoping to long it got faked out. It then slowly decayed all session Friday, closing down by over 4% today.Another no play push.

HSFT

A clear gap up that fell at once to the flat line prevented any potential long. It did not ever trigger, though it made a move back up with 2 hours to go. Moved sideways into the close on Friday +0.50ish. A push.

LCC

A gap up and crap from the hod prevented longs from fake outs, fortunately. It fell out of the open at once to red, and continued decaying under the flat line for a time, before moving sideways into the close. It ended red by over 1.5% on Friday.